How to Work Toward Financial Well-Being Without The Detours

By Samantha Azzarello and Ainsley Woolridge via

There are many different paths that you can take towards financial well-being and several things that should be avoided along the way.

I’ve put together a list to help:

1. Annuities should be avoided because they are expensive, overly structured, and complicated “solution” to the wrong problem (risk aversion). Annuities are sold because they generate high sales commissions. Very few financial circumstances are well served by annuities.

2. Avoid focusing exclusively on your investment portfolio. The portfolio is not a substitute for a financial plan. If you are watching the portfolio every day and worrying, you likely don’t have a plan. Financial planning can’t make short term variability disappear, but it can help avert dangerous reactions to short-term events.

3. Avoid trying to make sense of financial ”news”, Federal Reserve policy or ruminations from Congress or other policy makers about financial issues. Very, very little of this is meaningful and none of it is controllable.

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